Colombia Secures $592m From Isagen IPO

Colombia’s government has raised a total of $592m from the sale of state-run generation utility Isagen. It announced on Wednesday that it had secured a further $52m (COP104bn) from the second-round sale of 3.37% of Isagen to add to the $246m (COP488bn) it received from the first-round sale of a 15.85% stake in May. During the first round, only privately owned pension funds, labor unions and company workers were allowed to buy the shares; in the second round, the shares were open to all.